Opportun Loans Latest 2021 Review

Opportun Loans Latest 2021 Review

(11 customer reviews)
Loan Ammount
$300 -$9000
Loan term
9 to 49 months
Min. credit score
None
Est. APR
From 19.9% to 36%
Add to compare
8.5/10 (Expert Score)
Product is rated as #7 in category Reviews on Payday Loans
Borrowing has become an invaluable resource. To meet this demand, there has been a rise in the number of lending platforms that offer such services. This is good. But if you aren’t careful, you could leave yourself even worse off than you were before!
Availability
8.5
Affordability
8
Customer Experience
7.5
PROS:
  • Offers loans to individuals, regardless of credit standing and history.
  • It doesn’t request prepayment fees.
  • Can help boost your credit score.
CONS:
  • It has a limited reach as it is only available in 12 states.
  • It requests the payment of origination fees for certain types of loans.
  • Poor management of this loan can ruin your credit score.
Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.

Company (Lender) Loan Amount Loan term Min. credit score Est. APR Funds available in
oportun $300 – $9000 9-49 month None From 19.9% to 36% Within a day


Oportun Loans is one of the leading lending platforms in the country today. But even at that, how well do you know this personal loan service provider? Is there anything to be aware of before engaging their services? How do you know for sure that they’re the best choice for you? Here, you’ll find a thorough review of their service in 2021 to help inform your decisions!

What is Opportun Loans?

Most banks and lenders don’t consider loan applications from people with bad credit. Founded in 2005, Opportun Loans specializes in offering loans to these individuals.

Oportun Loans afford borrowers a wide range of loan options they can take out. Unlike many other lenders, Oportun Loans maintains an online and storefront presence. This means that you can choose to apply for the loan over the internet or in person.

They service both American and Spanish borrowers but aren’t available nationwide. As of the time of this writing, you can only get Opportun Loans in 12 states in the country.

oportun loan

States You Can Access Opportun Loans

  • Arizona
  • Idaho
  • Nevada
  • Texas
  • California
  • Illinois
  • New Jersey
  • Utah
  • Florida
  • Missouri
  • New Mexico
  • Wisconsin
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Is Oportun Loans Legit

The services that this platform touts are legit. They are also considered ideal by major customer review platforms like BBB. Regardless of your credit score, you can leverage their services to get loans ranging from $300 to $9, 000 fast.

What’s more, they’re licensed and regulated in all the states they operate in. This assures you that every transaction made with them is within the full confines of the law. The online front that the company provides has features that ensure your security. This includes 256-bit encryption and two-factor verification.

Still, there are a few things to take note of before going further with Opportun Loans.

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Transparency and Flexibility

Detailed information on the rates and terms applicable to your loan is scarce. Not much on that is available on their website. This implies that you have to be further along with your loan application first. You can get these details later. For people who like to know what they’re getting into first, this system of operation takes some getting used to.

While they offer various loan products, two factors that limit that service include;

Availability

Their service for only residents of the 12 states earlier mentioned. As such, where you stay is one of the most important things that determine your loan eligibility.

Payment Deadline

There is zero flexibility with choosing your payment date. Oportun Loan reserves this right. As a borrower, you cannot change or choose your payment date.

Beyond this, the ease and speed with which they make the requested funds available is amazing. Once approved, your loan can be ready as fast as the next business day. Also, depending on your preference, you can pick it up as a;

  • Check
  • Bank transfer
  • Prepaid debit card
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Effect of Opportun Loans on Credit Score

A credit score doesn’t mean so much to Opportun Loans. They also don’t consider the state of your credit history when you put in for a loan either. But, they do report your loan payments to major credit bureaus. Two of these include Experian and Transunion.

This can have an unexpected impact on your credit score if you are not careful. For people who have bad credit and manage to make their loan payments on time, this is good. In the long run, it’ll improve your credit score.

So, if you aren’t able to make regular on-time payments, you are also reported. So in the end, taking a personal loan from this agency could be very bad for your credit standing. Due to this, you have to be sure you have a solid plan before you proceed.

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Opportun Loans Customer Service and Experience

The performance of their customer service has been quite stellar. On customer review websites like Better Business Bureau, their record is great. Also, they appear to take customer complaints well and attend to them fast. But the fact that there are so many complaints in the first place is telling. It means that there is still much left to do to improve their customer experience.

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Loans and Rates Features

The interest rates that Oportun Loans request tend to be high. This is more so the case when compared to those demanded by similar platforms. Besides the high APRs, the time given to pay loans on average is quite short. The longest term you’ll get for any loan is 49 months. And, because the lender also determines how you’ll repay the loans, it may prove too difficult to manage.

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Conditions of Service Provision

Age is very important here. All lenders must be at least 18 years old. Also, you must be a resident of one of the 12 states they operate in. They accept individual applications, and you don’t need a bank account to apply.

Basic documentation you may need for your loan application include;

  • Proof of income
  • Latest pay stubs
  • Valid means of identification
  • Proof of citizenship. Non-residents are still considered though.

Once you visit their website or physical store and fill in your details, you usually won’t have to wait long. Their loan process is fast. If a borrower meets their requirements, credit approval and release of funds can take 24 to 48 hours.

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Final Word

Oportun Loans lives up to its promise of providing an outlet to borrowers who can’t get a loan elsewhere. If you have an alternative though, this lender might not be the best option for you. Loans here subject you to high APR and limited influence over your repayment. It also puts you at risk of damaging your credit score. So, it’s best to move forward here only if have exhausted all other avenues.

Terms: Opportun Loans Latest 2021 Review

Est. APR From 19.9% to 36%
Funds available in Within a day
Loan amount $300 -$9000
Loan term 9 to 49 months
Min. credit score None

11 reviews for Opportun Loans Latest 2021 Review

4.1 out of 5
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  1. Joy Bill

    ALL THANKS TO OFFICIAL HACKING COMPANY FOR MAKING ME RICH WITH BLANK ATM CARD.
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    Helpful(0) Unhelpful(0)You have already voted this
  2. Grace F

    This is the company that I turn t everytime I need a fast cash. They are reliable and fast. I get my money within 24 hours. The main issue is to repay on time and of course to pay their fees.

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  3. Freya W

    Opporun Loans is the best company on the market. I am happy that I found them when I was in emergency. They offered me a loan and the repayment rates that suited me. Thanks

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  4. Willow F

    Their customer service is great. The personal will explain everything in detail. You can get a loan fast and with the help of their customer service everything went very smooth.

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  5. Florence E

    The downside is that you can not choose the repayment dates for the installments. Other companies are more flexible with this. However they offer a great service.

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  6. Emily E

    With a bad credit score this is one and only option when I need cash. Their fees are high, but you can agree or not. And for this type of loan, fees are high everywhere.

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  7. Ella P

    They are available in many states so they are a good option. we don’t have a lot of companies that are available here. So I am satisfied with the service they provide.

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  8. Poppy E

    I applied, get approved and got my money next day. Great service and great customer care. They are good and reliable company.

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  9. Evie E

    In addition to their high interest rates, they are not flexible with the installment dates. I don’t like when I can not choose which dates suits me.

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  10. Elsie C

    I was late with the payments and it ruined my credit score which was not good previously. They are very strict with the dates and not flexible to extend the installment. Not a good service at all.

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  11. Charlotte E

    When I needed money I went instore in their branch. Everything was settled instantly. I like the way they work although they have high fees.

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    Opportun Loans Latest 2021 Review
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